Question: Thad decided to end the Smith Computer Center's first year as of September 30, 201X. Following is an updated chart of accounts. Assets 1000 Cash

Thad decided to end the Smith Computer Center's first year as of September 30, 201X. Following is an updated chart of accounts.

Assets

1000 Cash

1020 Accounts Receivable

1025 Prepaid Rent

1030 Supplies

1080 Computer Shop Equip.

1081 Accum. Depr., C.S. Equip.

1090 Office Equipment

1091 Accum. Depr., Office Equip.

Liabilities

2000 Accounts Payable

Owner's Equity

3000 T. Feldman, Capital

3010 T. Feldman, Withdrawals

3020 Income Summary

Revenue

4000 Service Revenue

Expenses

5010 Advertising Expense

5020 Rent Expense

5030 Utilities Expense

5040 Phone Expense

5050 Supplies Expense

5060 Insurance Expense

5070 Postage Expense

5080 Depr. Exp., C.S. Equip.

5090 Depr. Exp., Office Equip.

Assignment

1. Journalize the adjusting entries from Chapter 4.

2. Post the adjusting entries to the ledger.

3. Journalize the closing entries.

4. Post the closing entries to the ledger.

5. Prepare a post-closing trial balance.

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SMITHCOMPUTER CENTER GENERAL JOURNAL PAGE 2 Date 201X Account Titles and Description PR Dr Cr Sept 30 Adjusting Entries 30 Supplies Expense 5050 3 0 8 00 Supplies 1030 3 0 8 00 30 Depr Exp CS Equipmen... View full answer

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